- APT/USDT forms ascending wedges and Elliott Wave patterns, signaling potential rallies toward $14.63, $16.50, and $18.36.
- Elliott Wave correction suggests $6.50–$9.88 as a key accumulation zone, with breakouts possibly exceeding $20.
- Broadening wedges indicate increasing volatility, with traders monitoring breakout levels and volume shifts for confirmation.
APT/USDT has exhibited technical developments, with analysts closely monitoring its price action. On a 2-day timeframe, the asset displays two ascending broadening wedge patterns, while the weekly chart reveals an Elliott Wave structure. Both patterns indicate potential price movements, attracting attention from traders and analysts. Andrew Griffiths points out the completion of wave 5 in an Elliott Wave pattern, followed by a corrective ABC phase.
Elliott Wave Insights by Andrew Griffiths
Andrew Griffiths emphasizes the importance of the Elliott Wave sequence observed in the weekly chart. Wave (1) originates near $6.50 and ascends steadily to $18.36. Subsequent waves (2), (3), and (4) maintain bullish momentum, with wave (5) peaking at $18.36. Following this structure, the ABC correction phase unfolds.
The correction retraces to $9.88 at point A, followed by a brief recovery to point B. Point C completes the correction near $6.50. This aligns with Elliott Wave principles, signaling potential buying opportunities within the $6.50–$9.88 range. Key resistance levels for future rallies include $14.63, $16.50, and $18.36.
Broadening Wedge and Market Dynamics
Crypto analyst Andrew Griffiths shows two ascending broadening wedges. The first, in late 2023, led to a substantial price rally. The second wedge spans mid-2024 to late 2024, showcasing increasing volatility. Price action fluctuates within diverging trendlines, testing both support and resistance.
The asset remains in a phase of price discovery, with traders monitoring breakout levels. Historical data reflects sensitivity to technical patterns, particularly ascending structures. Moreover, reduced volumes during consolidation typically precede breakouts.
Horizontal support at $6.50 and $9.88 remains critical for traders. Resistance at $14.63, $16.50, and $18.36 could shape future price action. An anticipated rally beyond $20 aligns with historical breakout trends and projected wedge targets.
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